Stock in Focus: Metro Pacific Investments (MPI)

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Remember this post? Well, the bad news is the bias remains down for Metro Pacific Investments Corp. (stock symbol: MPI). The worse news is price continued to move lower since my last post and price nearly reached the 4.00 psychological level before bouncing. The worrisome gapping action seen in this stock in the last two days is not a welcome development, either.

The Stochastic indicator has recently come off the oversold levels and is now in the 50s, but this is never comforting, if you ask me. Price could revisit 4.00 again (or break it) so I suggest that you should continue avoiding this stock.

MPI Daily chart, January 28, 2014

MPI Daily chart, January 28, 2014

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